Havering (Parliament Politics Magazine) – Havering’s average house price rose 6.8% to £444,000 in February 2025, surpassing London’s 1.7% growth, driven by affordability and strong demand.
Both real estate prices and rental rates have increased significantly in Havering, surpassing the capital’s average growth.
According to recent data from the Office for National Statistics (ONS), the average home price in Havering increased 6.8% from the previous year to £444,000 in February 2025. In contrast, Greater London’s average real estate price increased by just 1.7% over that time.
In Havering, private rents have also increased significantly. Rent has increased by 10.3% annually to an average of £1,478 per month.
A growing population, better transport connections through the Elizabeth Line, and the borough’s reputation as a more reasonably priced outer London locale are some of the factors contributing to its increasing appeal.
Buyer behavior is influenced by mortgage interest rates and stamp duty changes; recent policy changes have resulted in brief increases in market activity.
Demand for Havering is rising as a result of purchasers looking for more affordable outer London regions due to rising mortgage rates and inflationary pressures.
Havering and other outer London boroughs have seen a surge in corporate and developer investment due to their expanding infrastructure and potential for growth.
Havering is more desirable and supports greater property values because it provides a mix of green spaces, neighborhood amenities, and job possibilities.
Growing concerns about affordability are a result of this increased trend, especially for first-time renters and buyers.
Many Havering inhabitants are finding it more and more difficult to find affordable homes as a result of rising real estate and rental rates.
There will probably be ongoing pressure on developers and local governments to solve these problems in next development plans.
What factors are driving the rapid increase in house prices in Havering?
The Elizabeth Line’s introduction and growth have greatly improved Havering’s access to central London and other important locations, increasing its appeal to commuters looking for reasonably priced accommodation outside of the city center.
There is a constant need for housing in Havering due to the city’s growing population and rising household formation. To match this demand, around 29,000 more homes will be needed over the next 20 years, according to local demographic patterns.
Buyers priced out of central areas are drawn to Havering because it is still less expensive than many inner London boroughs. Demand from first-time purchasers and families seeking larger homes with gardens is being driven by this affordability premium.
Havering, like a large portion of London and the UK, has a persistent shortage of new dwellings compared to demand.